Materiality Assessment

Materiality Assessment

To align our sustainability strategy with aspects that are of most relevance to us, we conducted our first materiality assessment this year. For our assessment, we adopted the Global Reporting Initiative’s (GRI) definition of material aspects as being those that reflect the organisation’s significant economic, environmental and social impacts and influence on stakeholders’ assessments and decisions.

To identify these aspects, we conducted in-depth consultations with internal stakeholders and supplemented their ratings with industry research and peer analysis. Additionally, we also referred to the Sustainability Accounting Standards Board’s (SASB) materiality matrix to identify the aspects that would be most financially material to our business. Moving forward, we will consistently evaluate these aspects to ensure that these aspects remain aligned with our strategy and relevant in an ever-changing external environment.

To further guide our sustainability strategy and to focus on key impact areas we have developed an ESG framework that highlights the pillars of our approach. Each material aspect has been grouped under these four thematic pillars i.e., Operational Impact, Employee and Community Well-being, Responsible Product Offering, and Ethical Business Conduct. Underpinned by our vision and governance structure, we will use these pillars to communicate our progress and identify improvement areas. We have also aligned each material aspect to the United Nations Sustainable Development Goals (UNSDG’s) to communicate how we contribute to the larger sustainability agenda.